- Mar 17, 2011
- 201
- 94
- First Name
- Ryan
In this article on Ward's Auto about vehicle inventory being an asset or a liability, the author Valerie Vallancourt, VP of Marketing with Outsell, points out that "one of the dealership’s most visible assets – and often the biggest source of wasted budget and opportunity – is vehicle inventory." She states that "Choices made here can quickly make or break profitability," which is no doubt true.
Later in the article, Valerie suggests that, "The good news is that finding the perfect shopper for a specific vehicle has never been easier," and that, "Technology is available that intelligently matches customers to cars, allowing dealers to make sure they have the correct inventory for their marketplace."
The latter statement is certainly true, but the former statement is a matter of debate. Although I imagine most would agree to this as well.
Anyhow, in the end, Valerie points to a study which suggests that dealers can sell three times as many vehicles by using smarter marketing tools in the critical 30-day window of a vehicle’s availability.
In fact, @Jasen Rice talks about this in his FB Live video from yesterday.
So my question is two-fold: 1) do we have the data and the tools now to move the majority of our inventory within 30 days; and 2) how much of this comes down to technology versus people and process?
Later in the article, Valerie suggests that, "The good news is that finding the perfect shopper for a specific vehicle has never been easier," and that, "Technology is available that intelligently matches customers to cars, allowing dealers to make sure they have the correct inventory for their marketplace."
The latter statement is certainly true, but the former statement is a matter of debate. Although I imagine most would agree to this as well.
Anyhow, in the end, Valerie points to a study which suggests that dealers can sell three times as many vehicles by using smarter marketing tools in the critical 30-day window of a vehicle’s availability.
In fact, @Jasen Rice talks about this in his FB Live video from yesterday.
So my question is two-fold: 1) do we have the data and the tools now to move the majority of our inventory within 30 days; and 2) how much of this comes down to technology versus people and process?
